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FED

MNI INTERVIEW: Cleveland Fed Economist

USDJPY TECHS

Clears Supports

EURGBP TECHS

Reverses Recent Downleg

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  • RES 3: 152.54 - 38.2% Mar'20 - Feb'21 Decline
  • RES 2: 152.03 - High Jan 21
  • RES 1: 152.02 - High Jun 11
  • PRICE: 151.72 @ 16:50 BST Jun 21
  • SUP 1: 151.17 - 38.2% Feb - Apr Rally
  • SUP 2: 150.88 - Low Apr 1
  • SUP 3: 150.19 - Low Feb 26

JGB futures have resumed their uptrend, pushing through nearby resistance to strike a new multi-month high at 152.02. This shifts next resistance higher to the Jan 21 high of 152.03, with key resistance at the 38.2% Fib of 152.54. Initial support is 151.17, a retracement where a break would strengthen a bearish case. Key resistance has been defined at 152.02.